In yesterday’s Wall Street session, Permian Resources Corporation (NYSE:PR) shares traded at $9.07, down -3.51% from the previous session.
16 analysts cover Permian Resources Corporation (NYSE:PR), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $11.00, we find $14.00. Given the previous closing price of $9.40, this indicates a potential upside of 48.94 percent. PR stock price is now -11.89% away from the 50-day moving average and -2.90% away from the 200-day moving average. The market capitalization of the company currently stands at $4.97B.
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The stock has received a hold rating from 4 analysts and a buy rating from 12. Brokers who have rated the stock have averaged $14.13 as their price target over the next twelve months.
With the price target of $13, UBS recently initiated with Neutral rating for Permian Resources Corporation (NYSE: PR). On March 01, 2023, TD Cowen Upgraded its previous ‘Market Perform’ rating to ‘Outperform’ on the stock keeping its target price maintained at $15, while ‘Cowen’ rates the stock as ‘Outperform’.
In other news, NGP XI US Holdings, L.P., 10% Owner sold 17,304,930 shares of the company’s stock on Mar 10. The stock was sold for $185,119,489 at an average price of $10.70. Upon completion of the transaction, the 10% Owner now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 10, Director Riverstone Non-ECI USRPI AIV, sold 14,320,070 shares of the business’s stock. A total of $153,188,949 was realized by selling the stock at an average price of $10.70. This leaves the insider owning 58,227,600 shares of the company worth $528.12 million. Insiders disposed of 82,077,413 shares of company stock worth roughly $744.44 million over the past 1 year. A total of 3.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PR stock. A new stake in Permian Resources Corporation shares was purchased by MACQUARIE GROUP LTD during the first quarter worth $51,226,000. MASSACHUSETTS FINANCIAL SERVICES CO /MA/ invested $32,599,000 in shares of PR during the first quarter. In the first quarter, HOLOCENE ADVISORS, LP acquired a new stake in Permian Resources Corporation valued at approximately $17,713,000. MEREWETHER INVESTMENT MANAGEMENT, LP acquired a new stake in PR for approximately $11,991,000. ZWEIG-DIMENNA ASSOCIATES LLC purchased a new stake in PR valued at around $9,909,000 in the second quarter. In total, there are 328 active investors with 88.40% ownership of the company’s stock.
On Tuesday morning Permian Resources Corporation (NYSE: PR) stock kicked off with the opening price of $9.30. During the past 12 months, Permian Resources Corporation has had a low of $5.05 and a high of $11.99. As of last week, the company has a debt-to-equity ratio of 0.64, a current ratio of 0.70, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $5.13B, which is based on a 4.68 price-to-earnings ratio, a 0.78 price-to-earnings-growth ratio, and a beta of 4.55. The fifty day moving average price for PR is $10.29 and a two-hundred day moving average price translates $9.40 for the stock.
The latest earnings results from Permian Resources Corporation (NYSE: PR) was released for Mar, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.34, missing analysts’ expectations of $0.39 by -0.05. This compares to $0.05 EPS in the same period last year. The net profit margin was 25.10% and return on equity was 20.10% for PR. The company reported revenue of $616.27 million for the quarter, compared to $347.28 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 77.46 percent. For the current quarter, analysts expect PR to generate $720M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/24/2023. Investors who held shares on 05/16/2023 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 2.21% percent yield. There was an ex-dividend date of 05/15/2023 for this dividend. In terms of dividend payout ratio, PR is presently at 7.20%.
Permian Resources Corporation(PR) Company Profile
Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company’s properties consist of acreage blocks in Reeves County, West Texas and Lea County, New Mexico. The company was formerly known as Centennial Resource Development, Inc. and changed its name to Permian Resources Corporation in September 2022. Permian Resources Corporation was incorporated in 2015 and is headquartered in Midland, Texas.
